In the letter he writes:  

“The COVID-19 crisis requires global thinking to deal with it in the short term, by being both very practical and overcoming traditional mindsets and political blame games. But it also forces us to ask the question about the root cause of such a life-threatening event.

Is it a matter of bad luck or a symptom of the way we organise our economies: in unsustainable ways and at a higher and higher risk? Is it not a dire warning that our approach to social and eco systems needs a fundamental reset? Our response must go beyond fixing the immediate problem. We must intensify our strategies to address climate change, the deterioration of biodiversity, and issues of social inclusion. Instead of postponing solutions, as has been proposed by some, we must act.”

Banks as part of the solution

Peter Blom further points out that the financial sector is part of the solution. And the values-based banking movement should be at the forefront, demonstrating an integrated approach that, while dealing with immediate challenges, considers the bigger picture and mid- and long-term perspectives.

You can read more about what GABV members are undertaking in this blog.